The Ideal Way to Apply for a Credit Card

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site.
Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site.
Compensation from our advertising partners impacts how and where their products appear on our site,
including, for example, the order in which they may appear within review lists.
Credit-Land.com has not reviewed all available credit card offers in the marketplace.

The Ideal Way to Apply for a Credit Card

Posted: May 9, 2010

Credit cards are the end result of a complex banking process. It is that thin plastic card with a magnetic strip at the back that identifies your individual code. It is what makes a person's wallet or purse "bulky". A valid credit card has a predetermined amount that is also known as credit limit, which enables the holder to acquire goods and services up to its limit. The seller obtains the necessary information from the cardholder once he or she decides to apply for a credit card. Compensation is being issued by the bank itself to the vendor while the cardholder reimburses the bank through a monthly regular fee. Interest rates for the unpaid fraction are charged if the total payment is not fully paid by the holder.
Banking companies have their own individual policies regarding how a person can apply for a credit card. A person's credit ratings help the lender determine whether or not a person is worthy of having a credit line. This type of rating can be affected by a number of controllable as well as uncontrollable factors. Clients can opt to choose a secured or unsecured line based on his or her repayment history. In order for a client to acquire a secured line, he or she must first submit the equivalent cash amount of the credit limit desired, which will be used to pay for insufficient payments that the client might have later on.
Clients with a good credit history are generally issued an unsecured line for they have proven their capability of making on-time payments. Performance is the key in increasing or decreasing a client's credit limits for this is purely based individually. Basically, unsecured lines are pre-approved loans that have higher interest rates in comparison to a personal bank loan. Everybody knows that the chief advantage of having a credit line is the ability to have instant cash whenever the need for one arises. The need to buy an important gadget can be remedied by just one swipe, which is practically a more ideal and convenient way for any person. This is the reason why it is very tempting for an individual to want to apply for a credit card.
Accruing more debts than one can possibly pay poses a big problem for any regular cardholder. Overbalances are rarely tolerated by issuing banks plus interest rates also sit on top of those balances that are being carried over. This makes it harder to pay out the debt sooner. Delinquent accounts are also issued higher interest rates every time a scheduled payment is missed. Paying the minimal amount due will not help reduce the holder's actual debt. The minimal payment will only serve as payment for the accumulated interest rate. That is why it is important for cardholders to practice proper self-control over their spending habits if they do not want to get into such a mess.
Credit cards give holders a sense of trustworthiness, especially in paying for hotel services and reservations, airline tickets, and the like. However, never is it the main determinant for the success that a person has reached in his or her life. Convenient as it may be, only you have the power to decide over what is wrong or right. apply for a credit card if you know that you badly need it.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

Related Research:

Days are getting longer, snow is melting and you already feel the lightest breath of warm breeze on your face - spring is here. Summer holidays are looming, and so is Easter with its shopping. You can lift in spirits and let CreditLand ...Continue reading

If you're trying to find the perfect rewards credit card, you might feel like you're drowning in options. There are just so many out there, and many of them look similar. This can make it tough to decide on a card. One thing people often ...Continue reading

Those who often find themselves buying stuff and then discovering that they could pay less for the same item they've just bought, will appreciate this credit card benefit – price protection. This is the least known and the most neglected ...Continue reading

The Credit-Land.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers.
Credit-Land.com does not offer any warranties and is not a direct service.
There are no guarantees for approval or offers when applying for a credit card.
Please refer to the application if you would like more information on each credit card.
When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website.
All logos on the Credit-Land.com website are property of their respective owners.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer.
Opinions expressed here are the author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.
Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult a card's issuing bank for terms & conditions.

User Generated Content Disclaimer: These responses are not provided or commissioned by the bank advertiser.
Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser.
It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site.
Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site.
Compensation from our advertising partners impacts how and where their products appear on our site,
including, for example, the order in which they may appear within review lists.
Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Please note that Credit-Land.com has financial relationships with some of the merchants mentioned here.
Credit-Land.com may be compensated if consumers choose to utilize the links located throught the content on this site and generate sales for the said merchant.